Ark Invest sold $16 million worth of Coinbase shares last week

According to the latest trading documents, Ark Invest sold 96,435 shares of Coinbase stock worth about $16 million for its three exchange-traded funds last week. According to TradingView, Coinbase's stock price was $165.98 at the close of trading on Friday, down nearly 3% that day. Ark Invest also sold 565,491 shares of Robinhood stock worth about $8.2 million last week. On Friday, the stock price for the stock and the cryptocurrency trading app closed at $14.48, up nearly 8% for the week and up 30% in the past month.